Madison Park

Just wanted to know if anyone else had a heart attack when they opened their new property tax evaluations?Our house went up 79,500 dollars!!Some thirty percent!!Ours was 70%!!The letter states that we can't appeal because of the percentage increase,only if we can prove that comparable houses in our area have been selling for less than the evaluation(fair market price),I feel sorry for our neighbors that live on a fixed income.I wonder if they would buy my house for the new price?Especially in this economy..oh well

Yes mine was about the same increase as yours.  It was a little shocking.  I know a couple of Madison Park residents have told me they have not been able to pay last years taxes yet they owe.  So they are really concerned...this due to having not being able to find work.  At least on my street the houses have been going for the new rate or more the last several years....so guess we have been lucky the last few years at least on my block not to be paying the new tax assessment rate sooner.

I am not looking forward to the new bill for sure though regardless!

I knew our neighborhood was in for a big increase when I saw one of the TV station reporters talking about the increase while doing a remote news spot in Madison Park.   However, I was STILL shocked when I opened the envelope!  Our value went  up $78,000 (57%) and we have done no major improvemesnt - just maintenance.  For those of us who don't plan on selling, any time soon, the higher values only hurt.  I would hope some of our resident realtors will get some comparables together for our Monday meeting....  this would help us to know if we should protest or just live with it.

Ours went up 41%. It seems like there is a neighborhood "surcharge" of $100,000 for the land value which have been attached to all properties that I looked at near our home.  The overall comparative figures that I found on the various websites seemed to back up the assessed values given the limited number of homes sold which used both 2009 and 2010 data.  The problem is that a lot of homes have not sold and the ones on the market now seem to be less that the overall appraised values.